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Entries for Selected Corporate Transactions Nav-Go Enterprises Inc. produces aeronautical navigation equipment. Nav-Go Enterprises' stockholders' equity accounts, with balances on Ja follows: Common Stock, $10

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Entries for Selected Corporate Transactions Nav-Go Enterprises Inc. produces aeronautical navigation equipment. Nav-Go Enterprises' stockholders' equity accounts, with balances on Ja follows: Common Stock, $10 stated value (750,000 shares authorized, 500,000 shares issued) $5,000,000 Paid-In Capital in Excess of Stated Value-Common Stock 950,000 Retained Earnings 11,350,000 Treasury Stock (50,000 shares, at cost) 750,000 The following selected transactions occurred during the year: Jan. 15. Paid cash dividends of $0.13 per share on the common stock. The dividend had been properly recorded when declared on Dece of the preceding fiscal year for $58,500. Mar. 15. Sold all of the treasury stock for $18 per share. Apr. 13. Issued 95,000 shares of common stock for $1,710,000. June 14. Declared a 4% stock dividend on common stock, to be capitalized at the market price of the stock, which is $20 per share. July 16. Issued shares of stock for the stock dividend declared on June 14. Oct. 30. Purchased 31,000 shares of treasury stock for $20 per share. Dec. 30. Declared a $0.16-per-share dividend on common stock. 31. Closed the two dividends accounts to Retained Earnings. Required: 1. The January 1 balances have been entered in T accounts for the stockholders' equity accounts. Record the above transactions in the T December 31 balance where appropriate. If required, round to one decimal place

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